The new measure, to be announced at an 11:30 AM press conference, would aim to provide the president with certain specific powers in the event of a major cyber attack. The legislation would also create a White House Office of Cyberspace Policy, and the president would be required “to inform Congress in advance of what measures are being taken. The measures would expire in 30 days unless renewed by the president.”

“Our economic security, national security and public safety are now all at risk from new kinds of enemies, cyber- warriors, cyber-spies, cyber-terrorists and cyber-criminals,” Sen. Lieberman announced in a statement. “The need for this legislation is obvious and urgent.”
Full text of the senators’ press release can be found here.